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1445 Detroit St.

Denver, Colorado 80206

CONTACT BROKER
Price
$3,000,000
Property Type
Multifamily
# of Units
17
Building Size
10,044 SQFT
Lot Size
6,250 SQFT
Year Built
1968

Description

1445 Detroit is a 17-unit apartment building in Denver’s coveted Congress Park neighborhood. The 4-story property features 16 covered parking spaces, which is a rare and valuable amenity in this popular location.

The property has been under the same ownership for over twenty years and offers a clear value-add opportunity. The building’s systems are in good working order, including 70-amp electrical service with new GE breaker panels, an upgraded elevator and a new roof installed last summer. The HVAC system has also been upgraded with separate boilers for building heat and domestic hot water.

By renovating unit interiors, a new owner maximizes income potential. Similar apartments with full renovations are achieving $1,650/month in the neighborhood. Our analysis proposes a $40,000/unit renovation budget allowing for upgraded kitchens and in-unit laundry.

Highlights

  • Coveted location for tenants and investors
  • Three blocks from City Park
  • 16 covered parking spaces
  • New roof in 2024
  • Huge upside potential after in-unit renovations

Brokers

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Greg Johnson

. Senior Advisor
(303) 810-1328.
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Conner Piretti

. Senior Advisor
(303) 818-1805.
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Austin Bengford

. Advisor
(970) 692-3008.

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